TAMP assets came easily to Genworth, Envestnet and Loring Ward in 2010 and the fourth quarter sizzled
Giant SEI had a big turnaround but ended on a down quarter
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Bill Crager shuffles the deck on management team created just seven months ago: Tony Leal is out of 'Big Three' inner circle, replaced by Morgan Stanley vet Rose Palazzo
The RIA software 'trailblazer' and co-founder of MoneyGuidePro has been working on departure for a year; will transition to a 'consultant,' company says
January 7, 2023 at 1:50 AM
Envestnet just named an ESG head to meld 'wellness,' 'The Intelligent Financial Life' and 'sustainable investing' into a single nirvana -- that starts outside of the product realm
Ron Ransom earned CEO Bill Crager's trust as chief business development officer and now will define how Envestnet conducts itself as a global citizen and vendor of wellness.
July 27, 2022 at 2:27 AM
Biz Briefs: SEC cracks down anew on RIA reverse churning ~ Envestnet borrows $350 million to buy its own stock ~ Fidelity is creating a crypto waiting list while exec questions crypto ecosystem
Fed up SEC is ready to take on all nonsense at once; stock shocks, Orwell's new name game; Fidelity hosts a line dance
November 18, 2022 at 2:56 AM
Envestnet and Edmond Walters end odd couple 'Apprise' relationship with buyout, but leave open the door to jointly pursue RIA-to-entrepreneur dashboard... later
The MoneyGuidePro owner and eMoney founder execute clean break with Apprise IP rebranded as 'Wealth Studio.' Walters off to the races with a startup and vague promise to collaborate later.
April 6, 2021 at 12:50 AM
See more related moves
Envestnet Inc
TAMP
Top Executive: Jud Bergman
SEI Advisor Network
TAMP
Top Executive: Wayne Withrow
Buckingham Strategic Partners
TAMP, Asset Manager for RIAs
Top Executive: Alex Potts
Jeff Spears
We need a high end TAMP to meet the needs of larger advisors with larger and more sophisticated clients. Not sure that this is possible due to the unique investment needs of these clients, but I can dream can’t I?
Brooke Southall
That’s an interesting challenge to lay down to the industry considering that, well, who wouldn’t want to be the TAMP of big, sophisticated clients?!
My guess is that it’s more than crossed their minds. SEI is rolling out a major new tech platform this summer aimed at unifying households. Genworth Financial bought Altegris because clients were complaining about having to go off platform for alternative investments. Dynasty Financial, more unbundled, has its eyes on the biggest of clients.
Where do you see the gap in what the market provides and what these companies have?
Brooke
Jeff Spears
The gap is that the money managers on the TAMP platforms are the index hugging asset gathering managers that are on the wirehouse wrap programs, not the ones that high net worth clients are interested in using.
Dynasty is using Callan for their money manager research and their manager roster was derived for their non taxable institutional clients.
Most Altergris’ assets are in CTAs.
None meet the needs of the high net worth client. That has created an opportunity for firms like Presidio and Hall Management to create this service for their high net worth clients (Presidio avg $27mil, Hall $100 mil). Hall does offer their money manager research through their Fund of Funds, but Presidio is all in house.
Still looking…:)
J
Just something small that I’m picking at in regards to the gentleman whose photo is at the top of the page. You have printed his surname and then his first name. It’s supposed to be Gurinder Alhuwalia, rather than Alhuwalia Gurinder.
Brooke Southall
Thank you for that catch…corrected.
